corporate governance

GSK firmly rejects Elliott Management’s demands over chief executive

Hedge fund had sought to force Emma Walmsley to reapply for her job ahead of drugmaker’s corporate split The drugmaker GlaxoSmithKline has issued a firm rejection of the main demands made by the activist investor Elliott Management, and insisted its chief executive, Emma Walmsley, would lead the new pharmaceuticals and vaccines company after a corporate …

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Will Emma Walmsley’s radical therapy cure GlaxoSmithKline?

The boss’s plan to divide the pharma giant has support – but her own position may hinge on a crucial presentation this week Dame Emma Walmsley faces the toughest day of her career as chief executive of GlaxoSmithKline on Wednesday. The head of Britain’s second-biggest drugmaker will present a 10-year outlook to shareholders and analysts, …

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We’re all the poorer for shareholders’ loss of nerve on executive pay

AstraZeneca’s vaccine effort is remarkable, but investors should not have let it divert them from the job of moderating bonuses Investors failed another test of backbone last week, as a number of eye-popping pay packages overcame the threat of voter rebellions at annual general meetings. The board of AstraZeneca asked shareholders to support their decision …

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AstraZeneca’s boss is a boardroom superstar but a potential £2m cherry is pushing the point

Fund managers tried to vote down Pascal Soriot’s package for fear of more boardroom pay inflation A majority is a majority, but a rebellion of 40% against an executive pay policy is too large to be pinned solely on those brain-dead fund managers who outsource their thinking to proxy voting agencies. At AstraZeneca some serious …

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AstraZeneca chief executive’s pay rise in doubt ahead of investor vote

Investors are lining up to oppose pay-and-perks plan for Pascal Soriot worth up to £17.8m for 2021 AstraZeneca could be forced to rip up plans to boost the pay of its chief executive, Pascal Soriot, as investors prepare to vote on proposals that could take his remuneration after nearly a decade at the helm of …

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‘Obscene’ bonus hike for AstraZeneca boss prompts investor anger

Advisory groups ask shareholders to oppose bid to raise Pascal Soriot’s maximum share bonus to 650% of £1.3m basic pay AstraZeneca is facing mounting opposition over its plans to award its chief executive, Pascal Soriot, a big increase in bonuses, with two investor advisory groups calling on shareholders to vote against the policy. Glass Lewis …

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The FCA’s criminal prosecution of NatWest could cause real damage

Civil cases lost by other banks only led to financial penalties, but the verdict here may hit its reputation NatWest had “resolved all its major legacy issues”, declared Sir Howard Davies, the chairman, 18 months ago, speaking far too soon. Here comes another potential nasty one. The Financial Conduct Authority is bringing criminal charges under …

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The FCA’s criminal prosecution of NatWest could cause real damage

Civil cases lost by other banks only led to financial penalties, but the verdict here may hit its reputation NatWest had “resolved all its major legacy issues”, declared Sir Howard Davies, the chairman, 18 months ago, speaking far too soon. Here comes another potential nasty one. The Financial Conduct Authority is bringing criminal charges under …

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